News
05.10.2009
Ukraine wheat exports jump
Ukraine's wheat exports jumped to 1.832 million tonnes in September from 1.165 million in August and analysts said on Friday the devaluation of the national currency was the main reason for the increase in sales. "A sharp devaluation of the hryvnia makes our grain more favourable for importers," said Serhiy Feofilov, director of UkrAgroConsult agriculture consultancy.
He said the high pace of grain export was likely to continue in the next few months while the volume could fall in the second part of the season due to a decrease in stocks. In 2009 grain crop may fall to about 45 million tonnes from a record 53.3 million in 2008. Ukraine exported 25.3 million tonnes of grain in the 2008/09 season (July-June) and may cut sales to 18 million in 2009/10.
But a senior agriculture ministry official told Reuters this week that the exports might exceed an estimated 18 million and would reach 20 million. He also said high exports could devastate grain stocks and the government may consider export restrictions if next year's harvest is poor. The government all but banned grain exports in 2007/08 due to a poor harvest.
Reuters
